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All Forum Posts by: Uriah D.

Uriah D. has started 38 posts and replied 315 times.

Post: Has anyone done this in STR? Am I too optimistic on this strategy

Uriah D.
Posted
  • Investor
  • Apex, NC
  • Posts 340
  • Votes 188

@Leo Poon I had not until your post. We are considering it now! Thanks 

Post: Has anyone done this in STR? Am I too optimistic on this strategy

Uriah D.
Posted
  • Investor
  • Apex, NC
  • Posts 340
  • Votes 188
@Leo Poon We have one in Raleigh, nc that is similar to this. However we use a smart lock on the entry door and a key for the door to the bedrooms that’s accessible via old school lock boxes. With our property there are only 2 baths for 4 individual rooms. This has proven to be difficult. With your scenario it will remove most of our headaches. We are actually in the process of switching to (2) 2 bed 1 bath units with shared living/kitchen/dining. Your scenario will work fine. Just disclose the set up clearly in your listing as we have and all will be well. We are only a few months in and already super host eligible!

Post: Is this a wholesale deal???

Uriah D.
Posted
  • Investor
  • Apex, NC
  • Posts 340
  • Votes 188

@John O'Shea it's tough to say without interior photos. It would most likely sell to a rental person since it looks like you'll have 70-90k into the 2 units and renting for over 1100/month. We do buy rentals in Wake county, but SFR is our top priority. We are looking at apartments in wake and surrounding counties that need significant rehabs since that's what we are good at. I guess a flipper could buy and do the work then resell to an end buyer that needed a parent to live with them. You'll have more success with SFR and a lot more if you buy and resell on MLS.

Post: Seeking Words of wisdom from pro/seasoned rehab/flippers WWYD?

Uriah D.
Posted
  • Investor
  • Apex, NC
  • Posts 340
  • Votes 188
@Mike G. Trades are important to an extent, but just knowing what they do and how they do it is all you need. You don’t need to know how a mason mixes mortar or what glue a plumber needs. You need to know how to buy houses at a price that works for your business model. I would focus more on the acquisition side and marketing. My goals early on were to never rely on anyone else to bring me deals.

Post: How I added over $750,000 in value in 18 months of ownership

Uriah D.
Posted
  • Investor
  • Apex, NC
  • Posts 340
  • Votes 188

@Henri Meli way to go!  Thanks for the detailed run down of your property.

Post: Wholesaling in North Carolina

Uriah D.
Posted
  • Investor
  • Apex, NC
  • Posts 340
  • Votes 188

@Derek Johnson best of luck out there. If you find something let me know. Maybe I can be your first buyer. If you have any further questions feel free to reach out.

Post: Wholesaling in North Carolina

Uriah D.
Posted
  • Investor
  • Apex, NC
  • Posts 340
  • Votes 188

@Derek Johnson in NC, that is the way several attorneys have told me it is to be done. These are investor specific attorneys also. If you feel bad about an assignment fee being too high then either the deal isn’t that good for the buyer or it is priced too high. I’ve done very few wholesales as it’s not my Business model however, I never felt remotely bad about the fee. If the buyer wants the property and feels it’s a good price then they should not question your fee. 

@Pete Barrow NC doesn’t use title companies to facilitate closings

Post: Wholesaling in North Carolina

Uriah D.
Posted
  • Investor
  • Apex, NC
  • Posts 340
  • Votes 188

@Derek Johnson yes you can double close if you have the funds to wire into the attorney to cover the purchase or you borrow them. They can’t use the end buyers funds to cover your purchase in NC. At least the 3 attorneys ive asked have told me that. Does that make sense?

*no legal advice given*

Post: Raleigh/Durham & Surrounding Area Meetup

Uriah D.
Posted
  • Investor
  • Apex, NC
  • Posts 340
  • Votes 188
@Henri Meli looking forward to seeing everyone soon at the raleigh Durham meetup tonight.

Post: Raleigh/Durham & Surrounding Area Meetup

Uriah D.
Posted
  • Investor
  • Apex, NC
  • Posts 340
  • Votes 188

@Henri Meli thanks for setting it up. I have it on the calendar.